Bill Gates Says Short Bitcoin, Calls it Worthless Artificial Gold Investment

The billionaire also noted his concerns about speculation over insider trading if he were to invest in Microsoft stock

The billionaire also noted his concerns about speculation over insider trading if he were to invest in Microsoft stock

Earlier on Monday, " Gates stated on CNBC's "Squawk Box" which "bitcoin along with ICOs, I really feel totally [they're some] of those crazier, speculative things".

That interview comes following the Annual Shareholder Meeting Saturday, in which both Buffett and Munger doubled down on their distaste for Bitcoin.

"As an asset class, you're not producing anything and so you shouldn't expect it to go up", he said. "It does create a rising price, creates more buyers".

As Tyler has noted and explained in the tweet above, it is in fact "easy" to short Bitcoin. He elaborated that he was gifted some bitcoin for his birthday, but sold it a couple of years later. The investors that manage to cash in on such a type of investment are the ones who end up cashing out on time.

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Doubling down on comments during the weekend, Munger told CNBC on Monday that just because bitcoin and the blockchain technology behind it is "clever computer science doesn't mean it should be widely used, and that respectable people should encourage other people to speculate on it".

However, in December, two regulated U.S. exchanges - CBOE and CME - launched conventional bitcoin futures products, enabling bulls and bears alike to stake out their bitcoin positions in a secure marketplace.

Bill Gates is not the first important figure that talks negatively about cryptocurrencies in general.

Winklevoss along with also his brother Cameron had $1 1 million in bitcoin at $120 a coin in April 2013. Being an absolute anti-fan of investing into cryptocurrencies, he said that Bitcoin is "probably rat poison squared". In addition to criticism from influencers like Bill Gates and Warren Buffett, multiple governments have come forward with hesitance and concern regarding the influence of cryptocurrency and the effects that it might have on the markets at large. And this year, after a significant decline the price still hasn't managed to reach the mark of $10,000.

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